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Get ready to hear the truth about America on a show that's not immune to the facts with your host, Dan Bongino.
So liberals are absolutely losing it. Joy Reid and others in the liberal media brigade losing it because Texas decided to open up for business. God forbid that happened. Wouldn't want people to actually make a living. You can't have that. Go back to school, work, money and all that stuff not starved to death. Joy Reid at MSNBC is like now let's go back to the lockdown. That was really great for everyone. So I've got some video there.
But this is going to be an important show today. We're going to do a little Economics for Dummies segment at the end you're not going to want to miss. There's about five or six stories out yesterday I've been holding for a little while, some from yesterday, some from the days before that. Again, if you're into, like, common sense and stuff, I was talking to a friend of mine last night who's a liberal, and she was like, oh, my gosh.
Like, how do you think all this stuff you think I mean, because I believe in facts and stuff. I got this Economics for Dummies segment. I'm going to show you four or five stories again, proving to you using facts and data how liberals are on the wrong side of everything. If you believe in that kind of thing, you know, facts, data and all that stuff. And again, I just want to thank our CNN for running my CPAC speech.
That's the last time I say that. Mm hmm. Got just one more. I just want to get that in there one more time. Tonight's show brought to you by Express VPN. Keep those prying eyeballs off your Internet activity. Huh? Get a VPN today, don't wait, go to our friends at Express VPN, dotcom slash Mangena. It's important. Welcome to Dan Bongino. So I got that. Got a lot more to including the CPAC stage.
Fake controversy has now turned and cannibalized liberals. That's that that started it and cannibalized the liberal company. Warned you. All right. Today's show brought to you by our friends at my Patriots supply lists. And in times of a crisis or natural disaster, is there anything worse than running out of food? Of course not. You need to prepare in advance with long term food storage. It lasts up to 25 years. You need it. You better to have it and not need it than need it and not have it.
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Be a shame if you didn't have yours. Get it today. Prepare with Dan Dotcom. All right, Joe, let's go. I got another bell in the mail yesterday from a listener. I really appreciate you all sending me bells, but we are really out of space for bells. You guys and ladies are awesome. I appreciate that. But we don't have any more bells space. So thank you very much. It's sitting right there behind me.
But please, we're on a bell quota for Bowlsby. But you're the best. I do appreciate it. Thank Bongino. Belltrees. Yeah.
Oh, my. You have no idea. We get bells will have another bell inside of my fish from another that sent me a ringside bell.
So as predicted, you know, the fire brigade wants to continue pumping coronavirus fear throughout our society because, ladies and gentlemen, a very serious note. There's there's power and fear. Why why is there power and fear and power and fear? Sounds like one of those pseudo intellectual things people say when they're trying to sound smart. No, no, there is literal power and fear. Fear motivates people to do things. Why? Because they want to avoid something they fear, right?
No, not hard. Right. You see a serial killer running after you like a Jason Voorhees with a hockey mask. With a machete. You're afraid? Probably rightly so. And therefore, you're motivated to take action. Which is to do what? To run and get away? Well. When you fear instant death from the coronavirus because you've misplaced the risk in many cases, not in all, in some cases you could very well die from it.
But in most cases you will be your risk is relatively low if you're a young, healthy person. So misplaced fear motivates people to do things. And one of the things that motivates people to do is to give government people and bureaucrats power. And we know government folks power. It's it's like a moth to a flame. You're going to give me power. Let's take it. So they've got to keep the fear going. Here's a video I saw yesterday on CNN of a guest on the network.
As predicted, they will not let the masking and the social distance thing and the fear go no matter what. So now they're suggesting that even during flu seasons coming up, we should engage in, like seasonal fear, your seasonal fear mongering, and we should now maybe mask in social distance during every flu season, too. So stay away from people. Walk outside that this is I'm telling you, it's never going to stop. You doubt me that this is an actual guest on CNN suggesting exactly what I just said.
Check this out as we figure out what flu strains have been circulating in places like Australia or South America, which sort of predicts what what strains are likely to come into our country. There's been so little flu in those two areas. I think it's going to be hard for us to try and figure out what flu strains to pick. But you're right, if we mask and social distance every winter, we will see a dramatic reduction in flu, which usually causes hundreds of thousands of hospitalizations and tens of thousands of deaths.
I wonder whether that would be will be the lesson from this I.
I've only been warning you about this for a year now. That we should engage in sound risk analysis, we do that every day in our lives, right? We take on risk when we fly, when we drive a car, when we leave our house during a busy flu season, when we decide to get on a cruise ship, despite the fact that you're in an encapsulated container where there could be some viral outbreak, you know why we do that stuff?
Because cruises are fun and people like them and they want to live and they don't want to give up their liberty. They've gauged the risk. They think it's small enough that they're willing to take the chance. It's the same reason you get on an airplane. It's the same reason I get on an airplane. There's a risk. There's a risk, sadly, that that plane could crash. That risk is very low. People say, I'm willing to live my life and travel because it's important to me to see my loved ones.
So I'm willing to do it despite that risk. Why have we thrown that all out the window in the covid era? We've done it because people engage in fear porn, because fear porn leads to power porn. Later, we should mask social distance now for the rest of our lives because there's the seasonal flu. Showing you here's a perfect example of how fear porn, the media and liberal. Power hungry Lord Acton, power corrupts absolute, power corrupts absolutely all powerful men are inherently bad menfolks.
Here's a headline from The New York Times. They're terrified, terrified that quote, This is an actual headline, folks, not a joke. This is not the Babylon Bee or the Onion. Not meant to be satire. covid-19 Kolan. You've got to put that Kolan in their hat tip, Chris Plante, he says that all the time. You know what I'm talking about. If you listen to webmail covid-19 Coleman, the US is edging towards normal, alarming some officials.
It's a real headline. That's a real headline, Joe. People are alarmed. We're edging towards normal. God forbid does happen. Real headline in The New York Times because that's the fear. Thermometer ticks down from one zero five to ninety to eighty five to seventy back to like a room temperature of 68 or whatever it may be, or in my bedroom, 50 to right. As that happens, people are like, oh my gosh, Joe, if we start edging towards normal, people will start asking for their lives back and say, you know what, I'd like to go outside maybe without a mask on if it's my choice and I'd like to go outside and shake hands with people and hug my relatives if it's not.
Oh, no. Can I have again have can have. That's very, very that's highly dangerous activity. Highly. We can't have any, we can't have any of that. So where is this all coming from. Well Texas Governor Greg Abbott finally decided to open up Texas for business again, took a lesson from Rhonda Santurce or as the CPAC poll call them, Ron does not as spelled his name wrong. Either way, he's a great candidate. I love Ron.
That's not a sword. The Santurce. So the Texas governor decided to take a lesson from Ron. The Santa Cruz had great success in the state of Florida, Joe doing crazy things like asking people to act like adults. Now, we heard right. Gauge your own risk with coronavirus even. Oh, my gosh. Treat people like mature adults. That's crazy. And Ron does not. It's also said, listen, I think we should allow businesses to operate so people can engage in economic activity so they can feed themselves and earn money.
Another crazy idea. So Texas finally picked up on that. Greg Abbott opened up yesterday. So here's a segment of absolute zero Joy Reid, not a very smart person on MSNBC, losing her mind, by the way, if we ever gotten to the bottom of that homophobic blog, Joy Readhead, I'm just asking. She wanted like an FBI investigator if we ever get to the bottom of that. I don't think so. Yeah. Joe, do you remember has anyone got an answer on that read homophobic blog?
But no, she said she had an FBI. Her account was hacked and I haven't heard anything about that, but whatever. So this segment on MSNBC, which I read starts with Greg Abbott announcing Texas is open for business and Joy Reid absolutely loses it. And then we come back on the other side, we'll do actual stats, statistics. I'm sorry I said it that way, because statistics, the website we'll show you the statistics and data that I read is, you know, it's a lot for her.
It's a lot to ask for Joy Reid to actually do basic research, like putting a search engine. What are the deaths per capita in state? She doesn't do that kind of stuff. So check out your I read it starts with Greg Abbott opening up Texas. Thank the Lord. Check this out.
It is now time to open Texas. One hundred percent effective next Wednesday. All businesses of any type are allowed to open one hundred percent.
Yeah, yeah. You heard it right. The Texas governor said covid be dead. Everybody go ahead and open up. And that's not all of it. He's also lifting the state's mask mandate. Perhaps the governor should take a look at what happened when he eased restrictions in the past. Cases went right back up. You get some covid. If you get some covid, you'll get some covid. If you get some covid for the twenty nine million Texas residents, please, please do not listen to your governor.
Keep taking all safety precautions and protect our health and your lives because your governor, Greg Abbott, is the absolute worst.
Well, this is one of the great mediocrities of our time. I really there are some rather mediocre people who stunningly have been put on platforms by CNN and MSNBC, the Brian Stelter of the world and others. But it's just stunning, Joy Reid was actually given a show, especially given her past with an especially hateful posts about people. It's really weird. She's given a platform, but it's kind of bizarre. She's saying that the Texas governor just wants people to get get covid.
You know, she does the whole like Oprah Winfrey. You get a car and you get a car, like you get covid, you get go. I'm not sure Governor Abbott said that. I actually listen to it. Do you remember the part where you cut the video? Do you remember the part where Governor Abbott said and listen, I want you to get Koven, Newdegate Coveny and did it Oprah Winfrey style, that you cut that out of there and edit that joy just to kind of make me look like you did.
So it's not actually in necessary joy. Reid, of course, is making it up because that's what she says. So I decided to do this crazy thing like go to the statistics and the numbers and let's gauge the states which are still locked down, see how well they're doing in deaths per thousand people, death per capita versus the states that have opened up or will open up like Texas, because Joy Reid has a problem with that. So here we go.
Here is the test that I will put this link in the show, notes Bongino dot com slash newsletter. If you subscribe to my newsletter, I will get you these every day. You can go to the actual website yourself. Janno data is not your thing at all, but check this out. Statis the dotcom death rates from coronavirus. That's covid-19 Joy, in case you missed that in the United States as of March 1st. Twenty twenty one by state.
There we go. You get New Jersey, New York at the top. Pretty heavy lockdown there. Rhode Island, Massachusetts had some pretty heavy lockdown. They got Mississippi, Arizona, not through into Connecticut. So where is Texas and Florida, the two people she hates most. So you have to scroll and scroll and scroll.
And eventually when you get to twenty four, look at that. Look at that. At the twenty four spot, I had to cut some out in the middle because I couldn't even fit it in one screenshot. There you go. You got Texas at the twenty four spot which is decided to open up and relatively opened up before that. And then you've got that evil. Ron does not as who the liberals hate down in Florida, you guys, Mbalo, Texas.
And we've had twenty six percent at the twenty eight spot despite the fact that Florida's been open for a long time. Just curious where Joy's commentary about the awful Andrew Cuomo and the terrible work in New Jersey and California, because they've had pretty high, desperate thousands to where that commentary was, we we must have missed that. We must have missed that. I'm sorry. We didn't couldn't find that I searched. I just couldn't find it anywhere.
But again, Joy and her producers could have done the homework and just put in any search engine deaths per thousand as measured by state, I mean, that is literally what I put in the search engine on my phone and that comes right up. But that would require, again, a modicum of research and common sense, neither of which Joy Reid is capable of. All right, I got a lot to get through today, so let me move on to the second segment here.
As predicted, folks cancel culture will eventually cannibalize itself. I don't want to do a big Moncks. I've heard enough about the Dr. Seuss to it's terrible, I get it. But it's been all over. Don't you agree? Like it's been everywhere on cable news and talk radio. Folks, I know the news cycle for the producers out there on on cable and the radio and everything. I'm not trying to, like, insult anyone, but I know the news cycles slow.
Believe me, I'm in this business every day and I prep my own show in conjunction with the technical crew here. But the content is mine. But there's really no excuse to beat a story to death like the Dr. Seuss. OK, cover it. It's an important story, but we don't have to beat the story that there are other things going on, especially in the cancer culture realm, which is really important. Here's a story I think is as important because it highlights things I've suggested to you in the past that matter that cancer culture will eventually eat up liberals to why.
Because they run out of victims on the right, as we increasingly ignore these idiots and laugh at them, they violated Saul Alinsky. Rule number 13, what's the Lansky's rule number 13? Infamous liberal activist Saul Alinsky is in order to make a boycott or political activism effective. What do you have to do to a target, Joe?
Isolate. Isolate it. Yeah. Isolate that, I still remember the show you said I certainly I certainly if you listen to the show earlier in the week, you see where that comes, isolate.
Meaning focus like a laser on that target to make your activism and boycotts effective. The problem with the left and cancel culture is they are so undisciplined and out of control, they want to boycott everything, everyone all the time. Boycott Texas, boycott Florida, boycott Georgia. Boycott the local supermarket. Boycott this movie to boycott Gina Carano, boycott CPAC. Boycott companies involved in CPAC. Boycott the hotel involved with CPAC, boycott the firm that caters to the hotel involved.
Sepang, boycott the CPAC attendees, boycott people who spoke at CPAC. Boycott, Fox, Boycott, Tucker, boycott. And eventually your isolation principle goes out the window and liberals have so little self-control they can't figure that out. So what happens? What happens then is that they run out of targets on the right because their boycotts don't matter. People are laughing at them. They have to turn to the left and boycott their own people. Why would they do that?
Because there's power in it. Canceling people feels good to them or they wouldn't do it. And is there ignored by people on the right and left that? Their power starts to dissipate and we're going to boycott CPAC and it's not helping. Matter of fact, CPAC sold out in just a few days this year. What do we do? Let's move on to a leftist idiot who will take our boycotts more seriously. It will cannibalize itself. Here's a story that shows what I'm talking about.
As they run out of targets, they eventually eat their own, but takes it from a different angle. Here's an article I saw this morning on social media at Forward Forward by Jacob Kornblum design firm takes responsibility for the CPAC stage controversy. Remember this disaster? This is ridiculous. I mean, almost like Babylon. Be that. Yes, yeah. No, no, no. It gets better. Wait, you wait. You see who runs the design firm?
So someone put out a story. She goes to show how leftists make stuff up. Right. They put out a story. The CPAC stage was designed to look like a Nazi symbol. Ladies and gentlemen, I'm not even going to go relitigate the story again because it's such a dumb story. Like you'll lose double digit IQ points for even paying attention to it. It's really legitimately. That's stupid. They made it up the left and suckers fell for it.
So here's what happens. So Ian Walters, the director of communications for CPAC, told forward on Tuesday this forward dotcom, that the design firm they hired to design and design the stage provided several options for us to choose from. And what we ended up with was the most workable of the options they submitted. They also said that they will no longer be working with that design firm. Well, how did this cannibalize the left? Well, here's Yashar Ali, who is a leftist who tweets once in a while at Yashar tweeting this.
Well, the design firm CPAC Yuzu now CPAC turned and canceled its design foundry and Yashar Ali says, I know design foundry because they handle design for many events in D.C., for companies like MSNBC and Target. They oversaw the design for the Biden Cancer Summit, twenty eighteen. The owner, Yashar, says Annie is very liberal and was excited for Biden's victory, great work, conspiracy theories. Got one of your own canceled, I guess, didn't didn't you?
Didn't didn't really hurt us. CPAC will find another stage designer, probably from some free speech company that design stage that doesn't engage in political censorship. But it's really weird because that company probably made a whole boatload of dough off designing that stage for CPAC. And now your fake liberal boycott about a phony scandal, about Nazi symbolism. You just literally made up. You made no one actually believes CPAC designed the stage after Nazi symbolism. Got a liberal company and a woman named Annie, who's a huge liberal who works with liberals, got her canceled and probably cost a fortune in future contracts because no one will work with design foundry again, because every time you now put in a search engine design foundry, what's going to come up your design foundry Nazi symbolism.
Keep it up, keep it up great as Yashar, who is a leftist, by the way. A leftist, Yashar said in his tweet, Great job, conspiracy theorists, nice work, they're getting one of your own broke and canceled. Whose company is. And by the way, I don't let me just be clear. I don't wish this on design foundry. I don't care that Annie is the I don't know any I never heard of her in my life.
She's a liberal. She voted for Biden. Great. You do you? I don't want you cancel. But now this woman, poor woman in our company who designed this stage. Is now going to be stigmatized the rest of her life as some kind of a Nazi sympathizer, because idiots in the left wing media decided they were going to make her a target for cancer culture. Nice job, morons. All right, let me get to my second sponsor on the other side of this, I just want to tell you how, again, we can engage in cancer culture, too, and it's really starting to damage people who are advocating for cancer culture.
I got a story from The Blaze after that and a video of Chris Wray from the FBI who was turned into a total politician. This guy should run for office now. All right.
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Can you send us some for. We got to Joe's got one. Paul has got one day of women's watches through the beautiful. All right. Back to the show we love. So I told you, cancel culture eventually eats itself, it's cannibalistic in nature. Here's a story at the Blaze you'll see in the show notes today. Please check it out. The Golden Globes didn't work out really well for them. Golden Globes ratings down was at 64 percent.
So, yeah, 64.
Does that say anything about the Golden Globes ratings crash? How does that happen? Golden Globes rating crash, 64 percent. Why would that be?
Why would people not be interested in seeing the biggest stars? Air quotes of our time? Sixty four percent, despite folks being stuck at home with actually nothing else to do. Maybe because. US, all of us, the great unwashed, the deplorable, the dirt under the fingernails crowd, you know, the people that built this country and work in it every day. Maybe we're tired of being insulted and laughed at, mocked. Treated like garbage, you figuring that out yet, Hollyweird?
We can cancel you and we're doing it. Your jobs matter. And let me just say about Hollywood and the folks who work there, I traveled out to Los Angeles quite a bit. I know a lot of people on the West Coast. I know we associate Hollywood with the overpaid Xeros who star in movies and then insult us afterwards. But you've got to remember, folks, and I just ask you to keep this in mind, some perspective on this, there are a lot of people who work in Hollywood a lot.
And the movie production business who are not liberal, matter of fact, who are diehard Magga folks, the people who operate the cameras, the Foley artists, the gaffers, sound people, stage designers is a lot of them Giono jobs in the entertainment business for a while. And there is this. It's not a monopoly of liberals. And it's really a shame I say to the liberals destroying their business because you have to speak out constantly and insult your audience.
It's a shame what you're doing because you're costing really good people their jobs, too, and they have nothing to do with your nonsense. All right, moving on, I got a motive through a lot of stories today. A lot to cover. It's not really a slow news time. I know people in the media business think that's what they're going to cover. The Dr. Seuss story. Twenty four hours a day. But if you actually go out there, look, there's a lot to talk about here.
Disturbing video yesterday from up on Capitol Hill. Our broken FBI director is one of the worst in history. Christopher Wray goes up on Capitol Hill. This is his answer to a question from Ted Cruz, senator from Texas. Ted Cruz says, hey, listen, Chris, what's the deal with your domestic terror investigations when it comes to people like Antifa and BLM who burned down American cities? And Cruz? I'm not going to play the big game because it's long.
It's going to take Ray's answer. Cruz goes down a litany of things that happened, billions of dollars in damage to police being attacked, people murdered and killed. What are we doing about Antifa and BLM? And this is you want to see the worst dipsy do flip a Rusedski I've ever seen from an FBI director. Listen to him politicize the answer. And instead of addressing the obviously, obviously far left radicals that anti defend BLM, he managed to make an antifa question about somehow right wing domestic terror.
How he does this is a magic act only a politician could do. He should run, he'd win a congressional seat in a liberal district. Here's Chris Wray, our broken FBI director.
So, Senator, certainly we tried to respond aggressively with our partners to the domestic violent extremism that we saw playing out in streets all across the country this summer. Most of that activity, a lot of that activity, I would say, fell in what we would categorize as anti-government anti authority, violent extremism.
Some of it is anarchist violent extremism. Some of it is militia, violent extremism. Some of it might even be sovereign citizen, violent extremism.
But we saw a huge uptick in violent extremism in that broad bucket over the course of last year. And so we're trying to be aggressive with the tools that we have in terms of the charges we're bringing. We're trying to, as we talked about, frankly, in connection with January six, same thing for the summer. We're trying to look at sources of funding, planning, coordination, trying to learn more about tradecraft and tactics and things like that so that we can be better prepared to prevent it and feed information to our state and local partners so they can be better prepared to prevent it.
Hi. Notice what he does there. He wants to tie in a. fence, BLM mentioned January six sovereign citizens, I guess groups of media would associate with the right wing despite the right wing not wanting anything to do with with anarchy. I mean, I don't I don't know what. Why this guy is so divorced from reality and can't just speak in common sense and facts is really bizarre, especially after taking over for the dreaded Jim Comey, you would think we'd get back to some where he could.
I mean, how would you answer that question? You would just say, listen, this is a serious problem in the United States, we've had a lot of protests. Some of them have been hallmarks, sadly, by violence and property destruction. We're looking into it. If you are the leader of one of these groups and you've advocated for violence and whether it's done in an American city or American town or anywhere else, we're going to look into that, investigate that using the old law enforcement powers that are none of that was set.
He throws a curve ball and tries to make it about right wing or stuff or people they associate with the right wing. I don't even know what these groups are. I've never even heard of them before. Half of these groups he talks about in there. This question was about Antifa and BLM. I have zero faith in this guy. I just want to throw that in there to show you what we're dealing with, with the FBI now and why I'm I'm not kidding.
Why I fear these people, I don't mean fear them in like a whispered kind of way. I mean, I fear them because I'm not sure when you or me or anyone else is going to get investigated next, not because we broken any laws or done anything wrong, but because we don't meet the approved political narrative. Christopher is a powerful guy. All right, moving on. So AOC finally criticizing Joe Biden, you know, Joe Biden decided it was a good idea to.
Was an attack on Syria the other day without congressional authorization. So here's a tweet by AOC. She says, Here is the profound danger of what we just did in Syria. Imad King, president with majority disapproval of Americans, just decided abomination without the Konsta, without the constitutional requirement of congressional approval. Democrats who take war money pass the laws allowing it. Just kidding, folks.
April of twenty eighteen. That was against Donald Trump when Donald Trump engaged in an attack on Syria. Just kind of wondering when we're going to get a tweet from AOC about the Joe Biden attack on Syria, just wondering, just wondering, gee, the date on that little tweet, did you catch that guy? Did you really think that was about that Joe Biden anyway, anyway, that you probably don't. You think so? Yeah, I know. Wow.
But she may listen. She may criticize Biden, too. I'm I'm just. I'm just saying we'll wait for that, maybe we'll get an update. Hopefully we will put it on the show. All right, moving on to this segment, as you know. Let me get to my third sponsor. I want to move on to my Economics for Dummies segment. That's actually how I line that out in the show today. Economics for Dummies, also economics for liberals.
But in some cases, I said the same thing twice. I just can't I'm I'm not joking when I tell you I had a little bit of a back and forth with a friend of mine last night, say a friend, really relative. But I love her to death and just can't figure out her boss made her watch my CPAC speech, so she called me. It was my cousin, I, my cousin. She's great, but, you know, we don't share the same politics and she's like, man, I really like that speech.
But, you know, I just don't understand, like, why you believe the stuff you do in. I mean, that's funny because I don't understand why you believe the stuff you do, I just, you know, facts and stuff and whatever. I don't want to pile on my cousin. She's super nice. She was older than me, too. Maybe I'll show you some of the bit you want to see. I see a baby picture right here, folks, Vuuren, Rumbo, you want to see this?
Check this out. This is not a joke. This is a baby picture of young Dan Bongino. Can you see this on camera? Look at that. Look at my face. Check that out. Can you see that guy? Look at my face. What a happy little kid. To change my diaper. She's older than me. She sent me that letter. I had, like, a teddy bear to. Well, give me a big, tough guy, huh?
Baby pictures of old debate last night. And after we spoke, I went to sleep.
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He'll sleep, then he'll sleep dotcom, then go today. All right, back to our Economics for Dummies segment, because we need to do this because unfortunately, we have to break through the liberal morass of ignorance and stupidity sometimes and show them what actually happens in the real world when you swear allegiance to dopey liberal politics. Here's the first story, you know, liberals are really into the government spending money it doesn't have, right? So what happens when the government spends money?
It doesn't have jobs. Where does it get the money? Because the government spending money doesn't have now, right?
Well, either people can lend it to them or they'll do this crazy thing called Toinette quantitative easing, where we print money that would be called in the non-government world, counterfeiting, and you'd find yourself in handcuffs going to jail. That's what I actually did for a living in the Secret Service before I was in the protection detail, arrested people for counterfeiting. But when government does it, don't worry. So you call it quantitative easing and it's OK. So there's an interesting article in The Wall Street Journal.
Headline. Banks and bank, this is a real headline, again, not a joke. The banks in Germany are telling customers to take their deposits elsewhere. Why, because more customers really the real headline. More customers are having to pay negative interest rates as savings have surged amid the pandemic. Why is this happening? Well, German banks by even bigger international institutions and financial institutions are being charged negative interest rates for the deposits they keep, negative interest rates.
So think about what this means. That means you put your money in a German financial institution and the money loses money. Negative interest rates, a negative sign in front of. So Germany is then having to send its money to other larger financial operations and institutions were charging them negative interest rates. So Germany not wanting to lose money, is telling people, take your dinero and your dough and please bring it somewhere else. Pretty weird when you're in the money business that you're telling people to take your money and go elsewhere.
Ladies and gentlemen, I want to talk about this for a minute, I got an e-mail from a lady who said, Dad, you've got to talk about economics more. That's why we do honor Economics for Dummies segment today. People used to laugh at the idea of negative interest rates because they thought that'll never happen. Right. So negative interest rates. Why would anyone put their money in a bank to lose money? No, it's happening right now.
Here's from The Wall Street Journal. Germany's biggest lenders, Deutsche Bank and Commerzbank, have told new customers since last year to pay a zero point five percent annual rate to keep large sums of money with them. In other words, pay them a fee that might give you a fee. You pay them a fee to hold your money. The banks say they can no longer absorb the negative interest rates, the ECB, European Central Bank charges them. The more customer deposits they have, the more they have to park with the central bank, who's charging them to keep the money.
This is creating an unusual incentive. Were banks that usually want deposits as an inexpensive form of financing? Yeah, the thing we called banking for centuries are essentially telling customers to go away. Banks are even providing new online tools to get a loan to help customers take their deposits elsewhere.
Heck of a business model. Well, it is if you're in the safe business, I said yesterday. Yeah, right. Maybe time to get in the safes. Not a safe business, like a safe business. You know, safes, they punch in a code, open the safe. What better way to make money than to take your money out of financial institutions where everyone else is losing money, you put your money in a safe and your money is maintaining its value while everyone else is losing.
Sounds like a smart strategy to me. You better get in the safe business really quick now. I said people used to laugh at negative interest rates. So what happened? They did.
Sane economists around the world used to say negative interest rates, that'll never happen, no one's ever going to put their money in a financial institution knowing they're losing money by the day by doing so, or pay a financial institution to keep their money.
That sounds kind of dumb. So what happened, ladies and gentlemen? Well, the digital economy happened. And the search for Alpha. The search for gain and yield has gotten so terrible because we're printing money like crazy and money's worth less and less every day, that people are so desperate just to not lose money due to inflation that they put their money in financial institutions. No. One, because the digital economy makes it impossible to not have a bank account.
We're not where we were one hundred years ago where cash was king. Everything now is Apple Pay, credit cards, Venmo. Everything's done online. Everything's done online. Means you need a bank account. Right. So that's number one. But number two, people are so afraid of hyperinflation and their money losing. All of its value, basically over time. That they're saying themselves, I'd rather put it in a financial institution where I only lose a little bit.
That's how bad things have gotten. It is now impossible to escape the idea that you worked for money, that we're moving towards a hyperinflationary future because we're printing so much money that your money, the money you worked for yesterday is going to be worth less today. Literally, if you put it in a bank. Why do we keep doing this? Why did governments love negative inflation rates? Because, folks, it's a form of closet taxation, how's that if I put my money in a bank and I'm being charged, I'm losing money every day, keeping my money there.
How is that a form of closet taxation? Well, when the government prints money, it doesn't have to pay for things they can't afford, which we're doing now in the United States and around the world. What happens? It makes the money in circulation worth less. But what is it? It makes money worth less, what else is worth less? Oh, government dead. That's right. So if money's worth less and I owe Joe a trillion dollars, right, I'm a government, the United States and I say China, bondholders in China, a trillion dollars, that one trillion dollars is worth less to.
If we print a bunch of money, negative interest rates in conjunction with inflation and hyper printing of money makes money worth less. But it also makes your debt worth less, too. And if you're a government like the United States or Japan who have spent so much money, we can't possibly pay it back. What better way to not pay it back than to make the money you owe worth almost nothing. I've used this John Maynard Keynes, who is the eponymous name, founder of Keynesian economics, a real hero to the left, even he exposed a scam a while ago.
He explained that, you know, there's a couple of different ways to take money from your society. If you're a government, right, you can just tax them. So say you wanted to take twenty five percent of everything people owned in a society. And let's say the entire United States generated one hundred dollars just using round numbers in GDP. Well, the way to take twenty five percent and spend it would be to tax people. Twenty five percent.
Right. Is one hundred dollars in the economy. You get twenty five percent of it by taxation. But there's another way to do it to. There was one hundred dollars in circulation, the government doesn't have to tax you anything, they could just print thirty three dollars, spend it now is now one hundred and thirty three dollars in circulation. They didn't have to tax you directly, and that's still about twenty five percent. Thirty three of one hundred and thirty three.
This is a great deal for every one negative interest rates, if you're a government spendthrift looking at your bankruptcy, you make your debt worth less. You get the prints, a whole blueprint, the whole bunch of money, and you get to tax your people without them even knowing it. What a deal. Wait, there's more in our Economics for Dummies segment. Here's another Wall Street Journal article I found, I think last week. Yeah, February 26, California's Climate Contradictions.
New evidence shows that green policies punish the poor and subsidize the rich. That's got to be backwards. No way. Liberal climate policies punish the poor and subsidize the rich rich. We've been told, Joe, they punish the rich and subsidize the poor. How is this totally backwards? Well, let's see from the Wall Street Journal piece, by the way, just highlighting the great irony of the liberal forest fire that is burning down America every single day, how everything liberals tell you they're doing, they're doing the opposite.
We're fighting racism. Actually, you guys are the racists. We're fighting economic inequality. Actually, you're punishing the poor and subsidizing the rich. The facts don't matter them. Here, check this out. California's green energy policies. So if you are a rich person with solar panels on your roof in California, you are actually being paid by taxpayers in California to send your extra energy to Arizona. Not a joke, quote, Wall Street Journal. Here's the kicker.
Folks with solar panels get paid for surplus power in California. They don't use sometimes show at two to three times the rate of wholesale power. What a gig. So California pays the well-to-do with solar panels to generate solar power it doesn't need and it pays the state of Arizona to take it. Why don't how do I get this deal, Paula? Solar panels tomorrow on the roof. What a deal. All the rich people and I thought the liberals were, you know, eat the rich, help the poor.
That's that's just really strange that California taxpayers are paying really rich people who have solar panels to generate extra electricity, paying them two to three times the rate they could pay for wholesale power to rich people who are then sending the power to citizens out of state, not even California citizens who are paying the rich people. Whoa. That sounds kind of bass ackwards to me. But wherever we can. Do you even do facts, do you even do that stuff?
Oh, it gets worse, it's not just that your green energy utopia finances those evil rich people, you can't stand them, pays them to send power to citizens of another state. It's that you actually tax the middle class. The middle class, I thought you were helping the middle class, you liberals, you tax the middle class to then pay off the poor who can't afford their electric bills because you're too busy paying the rich to send power to Arizona.
This can't possibly be. No, it is. It is, you know, facts and stuff, libs, facts, skulls penetrating that skull that we hear from The Wall Street Journal. Yet twenty five to 30 percent of all residential electricity is discounted for low income consumers. Because it's too expensive, because they're too busy paying the rich, so they discount it for the poor and quote, The cost of this subsidy for the poor is borne by the other customers.
The study says, in other words. It's just not I just I can't have you liberals are so stupid. This is real. In other words, the middle class ends up financing rate subsidies for the poor aimed at ameliorating the higher costs of solar subsidies for the rich. California's cap and trade program and utility public purpose programs like battery subsidies and several more cents per kilowatt hour.
Ay, ay. Just like putting breaks in my show that shouldn't be here. You're really supposed to talk in a talk show. That's the whole idea. It's a talk show. I just need a mental. Now you understand why I love my cousin, but this conversation with my cousin, so frustrating. I really I love her to death. But, you know, you get it now. You're paying off rich people. To send power to another state.
By doing that, you're raising the electric bills of everyone else, poor people can't afford their electric bill to keep their lights on. So then taxpayers have to pay poor people to keep the lights on using the money of the middle class who are moving. I can't I really I can't do it. I can't I can't take the stupid anymore. But shockingly, it gets even dumber, I have more. Here's more liberal stupidity, and I have this under the headline here, why this and this is a serious attempt to get away from the sarcasm, because this is important stuff.
There is a profound economic schism developing in this country between the haves and have nots. And it's precisely because of the story I just told you, government intervention is what's insulating the rich. The wealthy and making them a class of untouchables as they connect themselves fully to the Democrat Party. There's an economic schism. Developing in this country between the well-to-do elites and the everyday working man that is getting worse and it's precisely liberalism that's doing it. I want to show you more evidence in a second with this Wall Street Journal story is important.
We've also got our Heroes of the Day segment today. Very nice one. You're not gonna want to miss that. My last sponsors, their friends at Teater, you know, I love Teater inversion tables. Now Titer is bringing you this is my new fave. Not a joke. My new favorite. They're bringing you this full body zero impact exercise with one simple machine. Get this machine today. The free STAP recumbent cross trainer. Folks, I you know, I like mixed martial arts, and if you're doing any kind of guard work and stuff in those you're fighting from your back, you have to engage all your limbs at once.
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So here's one of those stories that really bothers me because we're creating an unnecessary economic stratified class society in this country where a group of connected wealthy elites have access to the government protection racket and a bunch of deplorable working class dirt under the fingernails. People out there who are actually building this country can't get access to that same economy. Well, why? Well, there's an article up by Phil Gramm and Pat Toomey today talks about the headline of the article is Trump's Protectionist Failure.
Tariffs, but there's a piece in there unrelated to the tariffs I wanted to put on the show today. I want you to read this. Why do you think there's a class of people growing super bitter in this country that they feel like they live in two Americas? There's America for working class folks in America for all the connected elites and people on the government payroll? Well, the numbers speak for themselves. Check this out. The numbers are just staggering that non workers, non workers, this country, people not working, are making upwards of 90 percent of their income from government transfers.
Check this out.
As the pay premium for having a college degree relative to a high school diploma almost doubled from nineteen sixty seven to twenty seventeen, blue collar America is falling further behind.
Over that same period, the explosion of government transfer payments caused the labor force participation rate of the bottom quintile of earners to collapse. By twenty seventeen. Check this out, folks, government transfer payments rose to constitute more than ninety one percent of their forty nine thousand six hundred thirteen dollars average income. This is people not working.
Government payments to non workers approached the after tax incomes of blue collar workers, spawning resentment. Do you think? You have these super connected elites with their green policies and their government lobbying and their cutesie energy panels and the solar panels grow back and compete for. We've got a lot of sun in Florida. Good. But people getting paid off the ship, their energy off to other states while the poor, his energy bills go through the roof. Gas prices rise.
Elitists connected to all the Wall Street hedge fund buddies, whether they be lobby people in the Biden administration, to get the rules carved out for them. Meanwhile, you got working class people busting their butts, saying to themselves, why would I do that? Why would I bust my butt if I can get government transfer payments? In other words, a bunch of government goodies and make forty nine thousand dollars a year. Or upwards of it. You're wondering why we have this Grand Canyon like schism in our society, you're wondering what led to the rise of Donald Trump and the union workers in New York and elsewhere in liberal states saying, I'm tired of this.
You know, I don't want to get off on a tangent because I got a little bit more to get to, but just quick, because this is important. When are we going to, as a conservative movement, just start speaking truth to people? I'm talking about the politicians and bureaucrats, not you, the conservatives in America, who actually give a damn. You can make for 30 to 40 thousand dollars from other people working. Ladies and gentlemen, one of the most generous countries on earth.
There are some people hurting, some people could use some help. I get it, I understand that. We don't allow hospitals to turn people dying away from emergency rooms here, but if you're an able bodied adult male. How the hell are you not working for a living adult, male or female I am talking about if you are an able bodied adult, male or female capable of working, aren't you embarrassed taking handouts from other people? Maybe you just need to hear it straight that.
I don't want to work to support someone else who's capable of working and doesn't want to. Why are we beating around the bush anymore? That's not compassion. To incentivize people to not work and destroy their own lives and detach them from the dignity of a job and pretend it's compassionate by paying them not to do anything is neither compassion. Nor any path to prosperity in the future. You got to work, get up, get off your rump and go to work if you can, you can't find the job, try we have enough programs out there to help to bridge the gap, whatever it may be.
But there is absolutely no excuse in the most prosperous country in the history of humankind for someone who is able bodied to not be able to get out there and at least go look for a job, there is none. And this beating around the bush under some faux blanket of compassion is never going to do anybody any favors. I'm sorry. We're making it worse, another article I saw in The Wall Street Journal today. Now Democrats want to enact a universal basic income.
Universal basic income, you mean paying people for doing nothing? That's exactly what we mean. Wall Street Journal today. That's the actual headline. Universal basic income, what does that mean? That means you get paid to do nothing. They're doing it, though, under the guise of the covid stimulus, folks, check out this screenshot from the piece, get a load of this gem. You work for a living crazy. You want to pay other people not to work.
Screenshot no one from this piece. Under the guise of pandemic relief, the government would give a non-working single parent with two preschool aged children and one in grade school, eight hundred and fifty a month. So we come on top of other government benefits, including 680 a month in food stamps, amounting to eighteen thousand three hundred sixty dollars in combined annual income. That's the equivalent without accounting for taxes of working twenty eight hours a week at twelve fifty an hour, on top of that, the family would receive health insurance from Medicaid, may also receive housing and child care assistance.
Government benefits to non-working households that are this generous are bound to reduce employment. Think. This is not compassion, paying people to not work and detaching them from the dignity of a job is not compassion in this universe or any own known or unknown universe out there. It is not there is value in work. There is value in productivity and using your hands in your mind to produce things that make society better. I don't care if it's toilet bowl cleaner or the covid vaccine.
There is I mop floors and clean Maslin's for a long time. It's not a joke, I worked in a cemetery. There is dignity in work. Those were the cleanest darn mausoleums you've ever seen because I was proud. I didn't care that I had a clean toilet, bowls and key food, they were the cleanest damn toilet bowls there. And you know what? I was proud of it. And you laugh all you want. Liberals, as I said on his show a long time ago, maybe it's time for you to go get a mop and learn how to take some pride in your work, too.
There is dignity in work. There is nothing compassionate about paying people a UBI universal basic income to do nothing while other people do something to pay other people for doing nothing. What's the worst part about this? Screenshot number two from the piece. This bill would provide this new benefit, all this cash for not working. For only one year, but shocker here, Joe, The Washington Post reports congressional Democrats in the White House have said they would push for the policy to be made permanent later in the year.
Should make you feel absolutely wonderful. You'll be paying people now. To not work while you are working to pay people to not work. You know what? Let's skip the Bloomberg story for now. I had another one on rent control, but it's going to I'm going to have to maybe cover that tomorrow in my Economics for Dummies segment. I just want to get to my I have a couple of heroes of the day, one kind of silly and funny, but one serious.
Here's my first hero of the day for all you dog owners out there. Ladies and gentlemen, my dog Lucy is just in love with eating socks. I can't figure this phenomenon out. I woke up this morning, Lucy, I don't know where she finds the socks, how she finds the socks. But every time in my house, she Joe, I don't know where they're coming from there in drawers there in a laundry room that's closed. I don't know if she's doing Bruce Willis from Die Hard, negotiating a way through the air vents, finding a way into the laundry room.
I don't know how the lovely Lucy is getting socks, but I've been I'm like, why do I don't get why do they eat socks? It's disgusting. Is there any other clothing? Human beings, if you hide if you say that was like one of these things where you had to, they said under penalty of death, you must eat one of these non edible items. Is there anything worse than having to eat someone's socks used ones to? I'm not talking about like I'm talking about after a workout in the soreness.
Actually, that's kind of gross. So here's my first hero of the day. Wherever the people are at the first pets Dotcom, Liz Weinrich, who I guess is a vet or whatever. Why do dogs eat socks? Well, she explains, fascinating. Interesting to note, I guess Lucy really loves us. Dogs eat socks, I guess because of the smell they're attracted to the smell of you eating said socks. And, you know, they like to eat socks for a multitude of reasons.
She said socks, even ones that have been laundered, can smell a great deal like you. And your dog may have their initial interest in your socks piqued because of that, oh, they start chewing and looking at them and may accidentally swallow them no good. If your dog sees them as valuable because of their smell, because they smell like you, they may even intentionally swallow them as a way to resource guide them. Thank you. The Spruce Pets team for explaining that hides your socks from Lucy if you come off my ass.
But I found that kind of endearing that they smell you on them and they love them, but it's still kind of gross. So thank you, my hero of the day, the Spruce Pass, for explaining to me why I have to put my socks in the safe with my money to hide them from the negative interest rates. People want to take my money. You like that little tie in? Fascinating. Now being serious. I got this yesterday in the mail.
Real hero of the day. It's not that it was confusing at first, it's a thank you from the great team, it folds of honor who provides scholarships to the children of. Soldiers lost in combat, real heroes, also law enforcement as well, falls of honors, a great charity. You see their logo there. I wear their shirts during the show. Sometimes I should award today. Like when did they talk about, like, not getting a Segway?
I would have done it. But we still got America today. We're repping America. But I got this say, I was a little confused. I came to my house, too. It's even more confusing because everyone always sends everything to the wrong address. Someone donated the folds of honor. One hundred thousand dollars. Folks, that's a lot of dough. OK, even with negative interest rates, that's a lot of money. It is the Mark and Joanne Webb philanthropic fund.
So you are serious heroes of the day. I don't know if they did it in our name or why it wound up, but we got the thank you. I did. It wasn't my donation. I have donated the folds of honor, but this wasn't mine. But the Mark and Joanne Webb philanthropic fund. Thank you very much. You donated one hundred thousand dollars.
You are our serious heroes of the day today. That's really tremendous. So thank you for that. Again, I don't know why the thank you came to me, but either way, you deserve a shout out on the show. All right, folks, thanks again for tuning in. I really appreciate it. I have again, a small favor. Please go to our video show on Rumble Rumble, dot com slash Mancino. It is free. It is zero cost to you.
Please subscribe to the show. Right. There were almost at one point five million people rumble dot com slash bungeni. And please make Bungeni Report.com your home for morning news. We'd really appreciate it. Thanks for tuning in. We'll see you all tomorrow.
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